Huntsman, Economy Hasten Push For Closing Clarity

Law360, New York (September 16, 2009, 12:29 PM EDT) -- Last fall, as the carnage in the financial system took all the headlines, the Delaware Chancery Court made a ruling on what constitutes a material adverse change that could scuttle a merger.

What M&A practitioners were left with, essentially, was a definition of a MAC similar to Justice Potter Stewart's definition of obscenity — they know it when they see it. And a combination of the ruling in the recent Hexion-Huntsman case and a deal environment heavily tilted in many cases toward buyers has resulted in...
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